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Jul 25, 2013
07/13
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it is good that we have brought the deficit down and are on the path to manageable deficits. however, it matters how you do it, and what the president's been for is a progrowth, projobs, promiddle class fiscal policy. that mines three things. yes, you have fiscal discipline, but you have it more in the long term when your addressing our long term challenges. in the immediate term, you invest more in infrastructure, in fixing deferred marnt nens. and you, of course, make sure we have room to invest in things that matter. what the house republicans are doing is they turn all of that on its head. they do nothing with the sequester to deal with the long term. they freeze the investments we need in education and research that are critical to our future. and then at the same time, they do a contraction airy policy that the independent cvo believes is costing our economy 750,000 jobs. so -- >> gene, let me ask you this. >> you want a balanced progrowth, promiddle class policy. the republicans want just the opposite of that. >> the most single consequential decision the president wil
it is good that we have brought the deficit down and are on the path to manageable deficits. however, it matters how you do it, and what the president's been for is a progrowth, projobs, promiddle class fiscal policy. that mines three things. yes, you have fiscal discipline, but you have it more in the long term when your addressing our long term challenges. in the immediate term, you invest more in infrastructure, in fixing deferred marnt nens. and you, of course, make sure we have room to...
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Apr 10, 2013
04/13
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we have massive deficits, a crushing debt. a slow economy, high poverty rates. >>> next hour we're also expecting senators joe manchin and paul toomey to announce they have a deal on background checks. they worked all night long to put the wheels in motion. votes could come on thursday. >>> the bottom line is we have the mothers and fathers of the victims from connecticut here on capitol hill and when they look a senator in the eye and say i need action, my child's life means something and you must do something. that is so powerful and so meaningful, i think it's going to shift the debate. >> i want to bring in t-- les fr sure than the president wanted, no universal background checks. >> it's a lot less than what the president wanted. if you go back to the new town shooting, limits on high capacity magazines, you heard manchin sketch out that this background checks deal, would not include universal background checks, it would close the loophole of gun shows. >> joe biden was outraged over the threat of a filibuster, let me pla
we have massive deficits, a crushing debt. a slow economy, high poverty rates. >>> next hour we're also expecting senators joe manchin and paul toomey to announce they have a deal on background checks. they worked all night long to put the wheels in motion. votes could come on thursday. >>> the bottom line is we have the mothers and fathers of the victims from connecticut here on capitol hill and when they look a senator in the eye and say i need action, my child's life means...
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Dec 23, 2013
12/13
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. >> i want to play a little sound here from senator coburn and what he had to say about the deficit and i want to talk to you and get your reaction about the budget right now. >> the reason we're in trouble on deficits and debts is not because we didn't agree, but because we did. so we pass a bill that raises spending and raises taxes and denies what we promised the american people and everybody says, oh, my goodness, how great. >> do you think it's great? >> well, i think it was a modest step in the right direction. for the first time in several years, we'll actually have a budget moving forward that provides some measure of stability and certainty. that's what businesses have been asking for. now, we do have to deal with our deficit issue, but we also have to deal with the fact that the economic recovery for working families and for middle class folks has still been stalled and schizophrenic. in order to get that right we've got to investment in the american worker and the american economy. now, we do have to deal with long-term concerns approaching $18 trillion in debt. we also h
. >> i want to play a little sound here from senator coburn and what he had to say about the deficit and i want to talk to you and get your reaction about the budget right now. >> the reason we're in trouble on deficits and debts is not because we didn't agree, but because we did. so we pass a bill that raises spending and raises taxes and denies what we promised the american people and everybody says, oh, my goodness, how great. >> do you think it's great? >> well, i...
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Apr 3, 2013
04/13
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they focussed on creating jobs and some say reducing the deficit should be the top priority. the republican pollster and the "washington post" anderson. we will go to the pollster first. make you have to defend our p l polling. this issue, bobby jindal has been critical of this. republicans in washington sound like book keepers. seems as if the white house polls a lot better than house republicans. >> i don't know that it's house republicans. take a look at how they did in the 2010 elections. where are the jobs? they got this this was the dynamic. >> that was in 2010. you bring up the point. >> they are still focused on that. they have a caucus that is focussed on 16 trillion. there a lot of priorities. they think it's a challenge to get everyone to focus on the number one issue. >> where are they today is a good question. where are they today applies to the republican party with respect to a wight range of issues. even talking about the accountants and the american people talk about the anxiety. they are not hearing what the american people are saying. that's one of the reas
they focussed on creating jobs and some say reducing the deficit should be the top priority. the republican pollster and the "washington post" anderson. we will go to the pollster first. make you have to defend our p l polling. this issue, bobby jindal has been critical of this. republicans in washington sound like book keepers. seems as if the white house polls a lot better than house republicans. >> i don't know that it's house republicans. take a look at how they did in the...
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Apr 10, 2013
04/13
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our deficits are already falling. over the past two years, i have signed legislation that will reduce our deficit by 2.5 trillion, more than 2/3 of it through spending cuts and the rest through asking the weal wealthest americans to pay their fair share. that doesn't mean we don't have more work to do, but here's how we finish the job. my budget will reduce our deficits by nearly another $2 trillion so that all told, we will have surpassed the goal of $4 trillion in deficit reduction that independent economists believe we need to stabilize our finances. but it does so in a balanced and responsible way, a way that most americans prefer. both parties for example agree that the rising cost of caring for an aging generation is the single biggest driver of our long-term deficits. and the truth is, for those like me who deeply believe in our social insurance programs think it's one of the core things that our government needs to do if we want to keep medicare working as well as it has, and we want to preserve the ironclad g
our deficits are already falling. over the past two years, i have signed legislation that will reduce our deficit by 2.5 trillion, more than 2/3 of it through spending cuts and the rest through asking the weal wealthest americans to pay their fair share. that doesn't mean we don't have more work to do, but here's how we finish the job. my budget will reduce our deficits by nearly another $2 trillion so that all told, we will have surpassed the goal of $4 trillion in deficit reduction that...
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Mar 1, 2013
03/13
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here in this town all you hear about is the budget deficit. and the budget deficit has fallen. but none of what we are talking about scratches those issues at all. i think the big obstacle of this is the house republican caucus. they ran on the austerity agenda and they have stuck to it. just cuts, just cuts, just cuts. right? >> and yet there are two camps about what the white house wants. they are playing ball with the republicans because they don't see any other way of rejecting the conversation. they actually want to be in the midst of a grand bargain negotiation. i wonder which of those you think is true. >> the latter. it has significant spending cuts including entitlements. i think they are still in that mode. the reason we are stuck here is because republicans refuse to compromise on revenues. of course that has been unacceptable. >> if you look at the one pager that the white house has put out. there is the cpi change to the way that the cost of living increases are calculated. real dollars represent a cut over a time window. my theory is this is all a game in which th
here in this town all you hear about is the budget deficit. and the budget deficit has fallen. but none of what we are talking about scratches those issues at all. i think the big obstacle of this is the house republican caucus. they ran on the austerity agenda and they have stuck to it. just cuts, just cuts, just cuts. right? >> and yet there are two camps about what the white house wants. they are playing ball with the republicans because they don't see any other way of rejecting the...
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May 22, 2013
05/13
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the deficit actually shrank. we'll discuss the latest inconvenient truth, next on "now." ♪ even superheroes need superheroes, and some superheroes need complete and balanced meals with 23 vitamins and minerals. purina dog chow. help keep him strong. dog chow strong. meet the 5-passenger ford c-mc-max one. c-max two. that's a super fuel- efficient hybrid for me. and a long range plug-in hybrid for you. now, let's review. introducing the ford c-max hybrid and the ford c-max energi plug-in hybrid. say hi to the c-max hybrids. diarrhea, gas, bloating? yes! one phillips' colon health probiotic cap each day helps defend against these digestive issues... with three strains of good bacteria. [ phillips' lady ] live the regular life. with three strains of good bacteria. i tthan probablycare moreanyone else.and we've had this farm for 30 years. we raise black and red angus cattle. we also produce natural gas. that's how we make our living and that's how we can pass the land and water back to future generations. people sh
the deficit actually shrank. we'll discuss the latest inconvenient truth, next on "now." ♪ even superheroes need superheroes, and some superheroes need complete and balanced meals with 23 vitamins and minerals. purina dog chow. help keep him strong. dog chow strong. meet the 5-passenger ford c-mc-max one. c-max two. that's a super fuel- efficient hybrid for me. and a long range plug-in hybrid for you. now, let's review. introducing the ford c-max hybrid and the ford c-max energi...
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Oct 8, 2013
10/13
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you couldn't pay the debt service on the deficit any more. we would have to cut spending pretty quickly if this dragged on at all. this would take recovery into recession. bad for the bond market, bad for the stock market. >> the debt ceiling or debt limit has a bad name debt limit sounds like a good thing. sounds like you had a good limit on debt. without that cliff attached to it as bernanke did, without that little verbal trick, it would have been very hard to exprez to people that something dangerous was coming. making them realize that they have some serious risks in this if they have mortgages and car loans. >> it's a terrible name and idea. we should get rid of it. a lot of people hear this and they say this will put some restraint on the future. congress has already voted for programs they have committed to borrowing this money. so the debt ceiling is only a declaration that we will actually pay our debts. it would be nice if one result of the crisis is if congress would abolish the idea of a debt ceiling all together. it is an antiqu
you couldn't pay the debt service on the deficit any more. we would have to cut spending pretty quickly if this dragged on at all. this would take recovery into recession. bad for the bond market, bad for the stock market. >> the debt ceiling or debt limit has a bad name debt limit sounds like a good thing. sounds like you had a good limit on debt. without that cliff attached to it as bernanke did, without that little verbal trick, it would have been very hard to exprez to people that...
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May 17, 2013
05/13
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not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. maybe even a hashtag. you would think it would be front page news on every website. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest projected deficits since 2008, trying once again to repeal obama care. they voted for the 37th time to repeal obama care despite the fact that there is good reason to believe that obama care is to credit for much of the remarkable deficit reduction projected this week by the cbo. the deficit reduction republicans used to hold up as their entire reason for being. because the biggest driver of our long-term deficits is rising health care costs and -- get thi
not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. maybe even a hashtag. you would think it would be front page news on every website. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report...
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Jan 15, 2013
01/13
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assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in the right way. >> dan gross, thanks for coming. >> thank you. >>> next, developing news this afternoon on the latest sandy aid bill before congress. a house vote is expected tonight but there's plenty of opposition and maybe for good reason. we're spinning as "the cycle" rolls on for tuesday, january 15th. hey sis, it's so great to see you. you, too! oh, cloudy glasses. you didn't have to come over! actually, honey, i think i did... oh? you did? whoa, ladies, easy. hi. cascade kitchen counselor. we can help avoid this with cascade complete pacs. see, over time, casc
assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in...
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Jan 14, 2013
01/13
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and ironically, would probably increase our deficit. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. as the speaker said two years ago, it would be, and i'm quoting, speaker boehner now, a financial disaster not only for us but for the worldwide economy. so we've got to pay our bills. and republicans in congress have two choices here, they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. the financial well being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they had better choose quickly because time is running short. the last time republicans in congress even flirted with this idea our aaa credit rating was down graded for the first time in our history, our businesses created the fewest jobs of any mont
and ironically, would probably increase our deficit. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. as the speaker said two years ago, it would be, and i'm quoting, speaker boehner now, a financial disaster not only for us but for the worldwide economy. so we've got to pay our bills. and republicans in congress have two choices here, they can act responsibly and pay america's bills or they can act...
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Feb 28, 2013
02/13
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our budget and debt and deficit fall on the backs of middle class. not enough taxes on the wealthy or defense to cut. you can cut the defense department and half of one year's annual deficit. you can reform the defense department and that's precisely what our organization thinks we should be doing. finding ways to cut and doing so you get away from stripping a lot of programs in the discretionary side of the budget that people like. and people believe government should be doing. we have to reform it. not cut it and why sequestration is so bad. >> i'm struggling to see what you see obama is doing wrong with sequestration. obama said he's looking for a long-term deal here, a grand bargain, half entitlement reform and then include basically a tax reform, closing tax deductions. a discussion. he said that would be the other part of it and chained cpi and immediate question of sequestration, there's a proposal on the table of democrats that would as you say, saying call the bluff here, close loopholes and deductions and half spending cuts and no comparabl
our budget and debt and deficit fall on the backs of middle class. not enough taxes on the wealthy or defense to cut. you can cut the defense department and half of one year's annual deficit. you can reform the defense department and that's precisely what our organization thinks we should be doing. finding ways to cut and doing so you get away from stripping a lot of programs in the discretionary side of the budget that people like. and people believe government should be doing. we have to...
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Mar 26, 2013
03/13
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the deficit has always been a canard. when you're in office, you don't take that much notice of the deficit. it's not number one priority. when you're out of office, it's a way to hit the people who are in office. >> i think that's a good point, lee, it isn't lost on me and i don't think it's lost on many people that when people like paul ryan talk about cutting the deficit. they always want to do so by going after programs they're ideologically opposed to. programs for feeding seniors, feeding children, cutting the department of education. they don't want to cut the deficit, they want to do it to get rid of programs they don't like. >> it's killing two birds with one stone. jared makes a great point. the way things are supposed to work is when we come out of these recessions we're supposed to grow and everything is supposed to get better. that's not happening yet. not happening yet and we have at the same time the incredible income inch quality issue. whatever you think about the tax cuts, when you have a middle class th
the deficit has always been a canard. when you're in office, you don't take that much notice of the deficit. it's not number one priority. when you're out of office, it's a way to hit the people who are in office. >> i think that's a good point, lee, it isn't lost on me and i don't think it's lost on many people that when people like paul ryan talk about cutting the deficit. they always want to do so by going after programs they're ideologically opposed to. programs for feeding seniors,...
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Dec 11, 2013
12/13
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it would increase military and domestic spending and cut the deficit. it raises fees on airline passengers and also cuts pensions for some federal workers. so this is not a sweeping deal, necessarily, as paul ryan and patty murray outlined yesterday. they found the areas of their agreement. there were small areas of agreement, areas where they could negotiate kind of around the edges. but if they succeed in passing it, this will walk us back from this crisis to crisis sense of style of governing that we have sort of endured in recent years, where they have had short-term deal after short-term deal. so at this point we're looking to see whether or not they can get it through. that forceful defense you saw from boehner suggests that he's not going to give in to these groups this time. we heard from republicans coming out of their meeting this morning that there was much less opposition than there was support for this deal. >> all right, sign of a good compromise is typically when both sides walk away and don't feel as if they have achieved all their goals
it would increase military and domestic spending and cut the deficit. it raises fees on airline passengers and also cuts pensions for some federal workers. so this is not a sweeping deal, necessarily, as paul ryan and patty murray outlined yesterday. they found the areas of their agreement. there were small areas of agreement, areas where they could negotiate kind of around the edges. but if they succeed in passing it, this will walk us back from this crisis to crisis sense of style of...
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Jun 21, 2013
06/13
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it's not about policy and it's not about the deficit. it's about paying a price to appease the deep fears of the republican base. fears that were so eloquently described yesterday on the lawn of the capitol. >> there are people who are coming here who want to come to cut your lawn and have a better life. but there are people who want to cut your throat. >> the cost of keeping people like that quiet is $30 billion. courtesy of the u.s. taxpayer. joining me is ezra klein. we have had this discussion about how everything about the immigration debate isn't about what people say it is. i want to start on the border fence and talk about poverty. i want to play this bit of senator corker admitting that the bill he proposed is overkill. take a listen. >> for people who are concerned about border security, once they see what is in this bill, it's almost overkill. >> who advertises the policy in washington that they are supporting as overkill, as doing more as spending too much money? that's the opposite of what we're supposed to get out of the ca
it's not about policy and it's not about the deficit. it's about paying a price to appease the deep fears of the republican base. fears that were so eloquently described yesterday on the lawn of the capitol. >> there are people who are coming here who want to come to cut your lawn and have a better life. but there are people who want to cut your throat. >> the cost of keeping people like that quiet is $30 billion. courtesy of the u.s. taxpayer. joining me is ezra klein. we have had...
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Oct 8, 2013
10/13
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deficits are already following. what's to stop them from not taking yet another hostage again and again, and this just being the way we do things. >> right. and this is not about public policy. because if it were, the policy concessions they achieve, they would be happy to take, bank and roll into law. roll into the federal budget. roll into the sequester cuts. what john boehner said were arbitrary and probably too large in the "wall street journal" the week before the sequester hit. there is a public record here so anyone following, which is not everyone, but a growing number of people in the country, wondering why is what the republicans doing disrespecting our veterans who have fallen in war or keeping our parks closed or preventing us hunting in montana. many of the governments, quote, unquote, nonessential services help people live their lives. >> exactly. >> the other piece that is important that we have discussed before but shouldn't get lost, chaos and destruction is not just a threat here. chaos and destruc
deficits are already following. what's to stop them from not taking yet another hostage again and again, and this just being the way we do things. >> right. and this is not about public policy. because if it were, the policy concessions they achieve, they would be happy to take, bank and roll into law. roll into the federal budget. roll into the sequester cuts. what john boehner said were arbitrary and probably too large in the "wall street journal" the week before the sequester...
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Jan 15, 2013
01/13
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fiscal cliff, deficit, every single issue. the president's bills never go on the floor of the senate. there are bills that mcconnell agrees to before they reach the floor. because otherwise they can't proceed. one of these reforms that senator merkley talked about is just no more motion to proceed. the majority leader can put a bill on the floor. this is out of control. >> now, let me show you your union's advertising campaign against the filibuster. and let me just show you that first. then i want to ask a question. >> as climate change threatens the world we leave to our children and good u.s. jobs move overseas, time in the senate ticks by. it keeps ticking by with no results. because the system is broken. but we can fix it. and make the senate work for us again. >> people are stunned when they find out it was not majority vote. that one senator can just stop the process. is it your hope and the hope of cwa that when you do ads like this that the public will put pressure on their senators to reform this and just make it fai
fiscal cliff, deficit, every single issue. the president's bills never go on the floor of the senate. there are bills that mcconnell agrees to before they reach the floor. because otherwise they can't proceed. one of these reforms that senator merkley talked about is just no more motion to proceed. the majority leader can put a bill on the floor. this is out of control. >> now, let me show you your union's advertising campaign against the filibuster. and let me just show you that first....
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Oct 8, 2013
10/13
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he said he would negotiate on things like the health care law as well as the long-term deficit. here's some what the president said in his own words. >> let's stop the excuses. let's take a vote in the house. let's end the shutdown right now and put people back to work. there are enough reasonable republicans and democrats in the house willing to vote yes on a budget that the senate already passed. that vote could take place today and the shutdown would be over. serious negotiations could proceed around every item in the budget. last time that the tea party republicans flirted with the idea of default two years ago, markets plunged, business and consumer confidence plunged. america's credit rating was downgraded for the first time. a decision to actually go through with it to actually permit default according to many ceos and i'm quoting here, insane, catastrophic, chaos, these are some of the more polite words. warren buffett likened default to a nuclear bomb, a weapon too horrible to use. it would disrupt markets and undermine the world's confidence in america as the bedrock o
he said he would negotiate on things like the health care law as well as the long-term deficit. here's some what the president said in his own words. >> let's stop the excuses. let's take a vote in the house. let's end the shutdown right now and put people back to work. there are enough reasonable republicans and democrats in the house willing to vote yes on a budget that the senate already passed. that vote could take place today and the shutdown would be over. serious negotiations could...
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Aug 6, 2013
08/13
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the deficit is growing. do we have a growing deficit? is that true or false? false. republicans love the idea that our democratic president is so spend happy that he's driving up our nation's budget deficit. there's a difference between what our government takes in and what it spends is getting worse, the deficit is getting bigger that is not at all true. look, the first bar here is 2009, that's president obama's first year in office that's what he had on his hands when he came into office, what he got handed by the outgoing republican administration, then the next three bars are 2010, 2011, 2012 and the final bar, the teeny tiny one, little shorty there, you might miss it on the right, that's the projected deficit for the end of this year. notice that the bars are getting shorter? which means the deficit is getting smaller. you see when things were once long become less long, they are not growing. it's amazing, right? eric cantor, you are incorrect. next up, true or false, the city of detroit is holding an important election tomorrow for the top leadership of that g
the deficit is growing. do we have a growing deficit? is that true or false? false. republicans love the idea that our democratic president is so spend happy that he's driving up our nation's budget deficit. there's a difference between what our government takes in and what it spends is getting worse, the deficit is getting bigger that is not at all true. look, the first bar here is 2009, that's president obama's first year in office that's what he had on his hands when he came into office,...
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Jan 22, 2013
01/13
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he talked about reducing the cost of health care, the size of the deficit. the focus, it seemed to me, if there was an overriding theme, it was on equality, including fixing income inequality. how did you see it? >> i mean, the section on deficits, health care, entitlements, was a really fascinating paragraph. it wasn't a very long piece of the speech, but it was on one hand, the pragmatist obama coming out and saying we have to make hard choices on health care, on deficits, but he pivoted hard back to that message of equality that social security, medicare, medicaid are social equalizer and he's going to defend their place in society, and that's a slightly -- he's always said similar things, but the fact that he turned so hard back to a tone of saying i'm going to defend these programs, it led people to believe rightly so that he's going to be coming at the negotiations in the next couple months, maybe even the next four years, driving a harder bargain than he had the last four years on entitlement reform. it upset some deficit hawks, people who are hoping
he talked about reducing the cost of health care, the size of the deficit. the focus, it seemed to me, if there was an overriding theme, it was on equality, including fixing income inequality. how did you see it? >> i mean, the section on deficits, health care, entitlements, was a really fascinating paragraph. it wasn't a very long piece of the speech, but it was on one hand, the pragmatist obama coming out and saying we have to make hard choices on health care, on deficits, but he...
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Dec 11, 2013
12/13
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those changes do help cut the long-term deficit. so everyone is thrilled. >> we know that this budget agreement doesn't come close to achieving what we want to achieve on our ultimate fiscal goals. but, again, if we can get a step in the right direction, we're going to take that step. >> we would have preferred something quite different. but we do recognize the value of coming to a decision so that we can go forward with some clarity. >> okay. everyone's luke warm at best. but for a congress that is this divided, it's a luke warm cup of holiday egg nog that is at least half full. remember, this time last year, house republicans were hitching up their wagons, ready to take us all over that famous fiscal cliff. as for the ringing in of this year, speaker boehner has a brand-new plan. >> obama care continues to wreak havoc on american families, small businesses and our economy. i think when we get to january 1st, it will be clear more americans will have lost their health insurance than will sign up under the new obama care policies. >
those changes do help cut the long-term deficit. so everyone is thrilled. >> we know that this budget agreement doesn't come close to achieving what we want to achieve on our ultimate fiscal goals. but, again, if we can get a step in the right direction, we're going to take that step. >> we would have preferred something quite different. but we do recognize the value of coming to a decision so that we can go forward with some clarity. >> okay. everyone's luke warm at best. but...
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Feb 22, 2013
02/13
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we decrease the deficit over the course -- because of the payroll tax cut, but we also hurt a lot of people, and we hurt ourselves economically, and we have fewer customers who have expendable incomes. what are we going to do going forward? are we going to try to pursue a deficit reduction strategy at the cost potentially of more -- of greater income for people who want to spend money, or are we going to actually do something for the economy? i find it a very frustrating debate for the reasons you listed, but also, you know, it's dominated our political system for two years now. we've been talking about deficit reduction for two years, and we've ignored issues like staggering incomen equality among americans. it's very frustrating. >> from the viewpoint of "the financial times" here, there is no real argument about how -- i mean, you focus on the deficit reduction theme has become the thing that our government is most focused on, right? yet, this is sort of a systemic failure in terms of wage stagnation and the american economy writ large, which is to say going into the future, if yo
we decrease the deficit over the course -- because of the payroll tax cut, but we also hurt a lot of people, and we hurt ourselves economically, and we have fewer customers who have expendable incomes. what are we going to do going forward? are we going to try to pursue a deficit reduction strategy at the cost potentially of more -- of greater income for people who want to spend money, or are we going to actually do something for the economy? i find it a very frustrating debate for the reasons...
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May 17, 2013
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paul ryan was the deficit guy in the deficit argument. the deficit was too big. one of their main arguments against re-electing president obama. we just received the new estimate of what the deficit will be by the end of the year. this is what the deficit had been up through last year, so 2009, that's president obama's first year, 2011, 2012, show the next year. this is what they had projected the deficit would be by the end of this year, but now that estimate has been revised. they have revised the projected deficit for this year and as of now, this is what the new deficit -- we have that slide whistle and we never used it before, are you kidding me? the opportunity costs. as of now this is the estimate of what the new deficit will be by the end of the year. that means the deficit has shrunk by $800 billion since president obama has been in office. this is the fastest deficit reduction we have had as a country since world war ii. honestly, that's kind of terrible. it's kind of terrible to the extent we are working on this stupid deficit issue, spending less inst
paul ryan was the deficit guy in the deficit argument. the deficit was too big. one of their main arguments against re-electing president obama. we just received the new estimate of what the deficit will be by the end of the year. this is what the deficit had been up through last year, so 2009, that's president obama's first year, 2011, 2012, show the next year. this is what they had projected the deficit would be by the end of this year, but now that estimate has been revised. they have...
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Jan 25, 2013
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that is what are you going to do about the debt and deficit? >> let's listen to that. >> you utilize your position to work with the president to solve the debt and deficit issue. >> i'm not here to go through the details why we didn't. there was a very, hard line position that prevented us from being able to come to an agreement which we just came to. but we came to it with far lesson the table and far less accomplished than we would have had if we had come to it a year ago >> and that is the most diplomatic answer than we had. >> well, it is telling that this is sort of the default position on anything. >> you got me on benghazi now debt and deficit. >> but this is the position of the republican ares on any kind of big picture item. we are outraged on his speech because he didn't talk about the deficit. >> what would he talk about? there is nothing else they have to wave. >> that is one issue where they have a political traction. there is a majority on americans. but they have made the calculation. there are a whole bunch of issues where they
that is what are you going to do about the debt and deficit? >> let's listen to that. >> you utilize your position to work with the president to solve the debt and deficit issue. >> i'm not here to go through the details why we didn't. there was a very, hard line position that prevented us from being able to come to an agreement which we just came to. but we came to it with far lesson the table and far less accomplished than we would have had if we had come to it a year ago...
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Jan 17, 2013
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it will reduce the deficit. obama care has brought the number of uninsured americans to the lowest level since 2008. however, the law would be fully implemented until 2014. it would put pressure on all insurers to lower their premiums in order to compete. it would also provide immediate relief to small businesses and the federal government and all parts of the economy. for example, former defense secretary robert gates has warned the rising -- he has warned of rising military health care costs for years. >> sharply rising health care costs are consuming an ever-larger share of this department. growing from 19 billion in 2001. >> military health care costs have gone up 300% in the past decade. 2012 was the first year since 1995 military personnel saw an increase in health care premiums. now, there are two things republicans love, the military and reducing the deficit. republican should be thrilled with the public option. how can you make a hundred billion dollar mistake? who's doing the math? will it save or won'
it will reduce the deficit. obama care has brought the number of uninsured americans to the lowest level since 2008. however, the law would be fully implemented until 2014. it would put pressure on all insurers to lower their premiums in order to compete. it would also provide immediate relief to small businesses and the federal government and all parts of the economy. for example, former defense secretary robert gates has warned the rising -- he has warned of rising military health care costs...
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Jun 7, 2013
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, a budget deficit. well, now it's coming down, as we all expected it would, when the economy began to improve and as the recession faded in the rearview mirror. so the idea that you can't go around screaming about that anymore, at least the numbers don't support you, you would think that maybe you can move to the jobs deficit. frankly, we should have been there a long time ago. but the movement hasn't happened because they don't really care about the jobs deficit or the budget deficit. >> you know, one of your colleagues kind of caught my eye. and i'm talking of the congressman steven fincher, who's a republican member of the house. last month explaining his vote to cut funding for food stamps, this is what he had to say. >> the role of citizens, of christians, of humanity is to take care of each other but not for washington to steal money from those and the country and give it to others in the country. >> now, food stamps -- now he's talking about why he voted against food stamps, he is saying is to st
, a budget deficit. well, now it's coming down, as we all expected it would, when the economy began to improve and as the recession faded in the rearview mirror. so the idea that you can't go around screaming about that anymore, at least the numbers don't support you, you would think that maybe you can move to the jobs deficit. frankly, we should have been there a long time ago. but the movement hasn't happened because they don't really care about the jobs deficit or the budget deficit....
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Mar 14, 2013
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but we make targeted deficit reduction in the out years to bring the outyear deficits under control. we do not want our deficits growing faster than the economy. we want to stabilize our debt but we want to do it in a way that maintains our commitments to our seniors and invests in economic growth. that's what the democratic proposals will do. they'll invest in long-term economic growth. but in a targeted way, both by smart cuts, by closing all of those tax loopholes for high-income people. by the way, mitt romney and paul ryan talked about during the campaign -- those tax breaks are all still there. by eliminating those tax breaks, we can take a balanced approach to reducing the long-term deficit. which is an issue. but you shouldn't sacrifice economic growth now, on the altar of deep cuts and an austerity philosophy. >> i want to bring the panel in because you know, the congressman talks about making smart cuts now. what's in it for democrats to do any grand bargaining at all. any savings that would be applied in cutting the budget, would not be applied to their priorities. it's no
but we make targeted deficit reduction in the out years to bring the outyear deficits under control. we do not want our deficits growing faster than the economy. we want to stabilize our debt but we want to do it in a way that maintains our commitments to our seniors and invests in economic growth. that's what the democratic proposals will do. they'll invest in long-term economic growth. but in a targeted way, both by smart cuts, by closing all of those tax loopholes for high-income people. by...
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Apr 10, 2013
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when you do is as part after large larger deficit, you get the boast of both worlds. confidence the president has the ability to energize and strengthen the economy and o deal with the long-term fiscal challenge in way that gives the president conference and is still the place to invest and create long-term jobs. >> senior administration officials say this budget is an starting point in the negotiations, that the plan is to stick with this. meanwhile, republicans as you know, have been reacting, actually preemtively reacting from the details were released. let's take a listen to a little bit of what speaker john boehner had to say. >> while the president has back tracked on some of his entitlement reforms that were in conversations that we had a year and a half ago, he does deserve some credit for incremental entitlement reforms. it is outlined in his budget. but i would hope he would not hold hostage these modest reforms for his demand for bigger tax hikes. president got his tax hikes in january. we don't need to be raising taxes on the american people. >> so if repu
when you do is as part after large larger deficit, you get the boast of both worlds. confidence the president has the ability to energize and strengthen the economy and o deal with the long-term fiscal challenge in way that gives the president conference and is still the place to invest and create long-term jobs. >> senior administration officials say this budget is an starting point in the negotiations, that the plan is to stick with this. meanwhile, republicans as you know, have been...
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Dec 12, 2013
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they don't want a bigger deficit. and they don't want more spending and control coming out of washington, and that is what this plan does. you can't change that fact that this will increase the deficit. and that's what bothers me. that's entirely misleading from these statements that somehow increasing spending's going to reduce the deficit, and that's not true at all. >> republican congressman tim huelskamp of kansas, thanks for coming on. >> thank you. >>> one year after the shooting at sandy hook elementary, is there still a chance for gun-control reform? one young newtown student is not giving up the fight despite inaction on capitol hill. that story after the break. >>> it's time for the "your business entrepreneur of the week." cass used to sell his tie dye shirts to big-box stores. he even opened a factory in guatemala to keep costs down. now it's closed. and he's making more money by giving up most of those big deals. for more, watch "your business" sunday mornings at 7:30 on msnbc. if i can impart one lesson
they don't want a bigger deficit. and they don't want more spending and control coming out of washington, and that is what this plan does. you can't change that fact that this will increase the deficit. and that's what bothers me. that's entirely misleading from these statements that somehow increasing spending's going to reduce the deficit, and that's not true at all. >> republican congressman tim huelskamp of kansas, thanks for coming on. >> thank you. >>> one year after...
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Jan 26, 2013
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you don't need the deficits at zero. you don't need the balance. and in fact, the difference between a small deficit to 2, 2 and a half percent of gdp, if the difference was if you shorted funding for education and highways and roads and bridges and basic scientific research, you would probably have a smaller economy in the long run, not a bigger one. because you would have starved the very kind of investments you need to fuel long-term productivity increases and growth in the economy. >> all right, this is a crucial point that you can -- by cutting too much now and not making investments in your future you can actually hurt long-term growth and make long-term deficits higher. bob greenstein, always good to see you. >> my pleasure. >>> john boehner says president obama is trying to annihilate the republican party. but up next, i'll explain why the gop is kind of doing a good job of it itself. and on that path, some republicans are trying to gerrymander it. some are saying we can't change the rules of the presidential election just because we lost o
you don't need the deficits at zero. you don't need the balance. and in fact, the difference between a small deficit to 2, 2 and a half percent of gdp, if the difference was if you shorted funding for education and highways and roads and bridges and basic scientific research, you would probably have a smaller economy in the long run, not a bigger one. because you would have starved the very kind of investments you need to fuel long-term productivity increases and growth in the economy. >>...
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Jan 15, 2013
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and also deal with the trade deficits, but even more importantly, what do we do to create an environment where businesses can grow and we can expand economic development? because this is still a very, very fragile expansion, though it is a expansion from probably the deepest recession we've ever been in wince the depression. a lot of pent-up demand, so i think this debate is centered on the right thing, what do we do to create an environment where businesses can grow. >> if we need and if republicans argue that what needs to be done is to cut the deficit, they need to perhaps go into default, are you okay with that? ivities illustrates well again i think we need to look at that time it through the lens of economy development. anything to slow this expansion down would have very, very serious consequences to all of us. >> let me ask you about your announcement last week. you were going to hire engineers, computer programmers. last year you announced to add 12,000 jobs by 2015. given everything that's going on, how confident are you that you'll still be able to meet that goal? >> well, i t
and also deal with the trade deficits, but even more importantly, what do we do to create an environment where businesses can grow and we can expand economic development? because this is still a very, very fragile expansion, though it is a expansion from probably the deepest recession we've ever been in wince the depression. a lot of pent-up demand, so i think this debate is centered on the right thing, what do we do to create an environment where businesses can grow. >> if we need and if...
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Feb 26, 2013
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point, deficits come up in periods of economic hardship. it is not a good time to come up. it hurts the economy to cut the deficit quickly while the economy it weak. so krystal this is the real danger of the sequester fight, this is not a cliff or a breach or a government shutdown. it will hurt, not that badly, but hurt the economy maybe in ways people don't even recognize is coming from the sequester. it will take growth out and people having jobs out of the pretty soon we'll see shrinking, but it wouldn't be directly relatable back. >> it was interesting last week, there was polling asking people how much have you heard about the sequester from pew. and 72% of people said they either heard only a little bit about the sequester or nothing at all. they had heard very little or nothing at all. and that is changing, the president made a concerted push to make them trace back this pole, specifically by releasing state by state estimates of what is going to happen, the agency estimates, and i looked at local papers in virginia, where i'm from.
point, deficits come up in periods of economic hardship. it is not a good time to come up. it hurts the economy to cut the deficit quickly while the economy it weak. so krystal this is the real danger of the sequester fight, this is not a cliff or a breach or a government shutdown. it will hurt, not that badly, but hurt the economy maybe in ways people don't even recognize is coming from the sequester. it will take growth out and people having jobs out of the pretty soon we'll see shrinking,...
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Feb 22, 2013
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yeah, we can talk about long-term deficit reduction. but let's not do it in a way that going to keep us from growing and therefore, as melissa suggested, ultimately make the problem we have worse. >> now, melissa, i raise the same question president obama, he was on my radio show yesterday, that e.j. addressed, personal, political. let me play for you what the president said he thinks is the reason they are not uniting and trying to protect the country. they are really trying to protect the rich. >> they're basic view is that nothing is important enough to raise taxes on wealthy individuals or corporations. and they would prefer to see these kinds of cuts that could slow down a recovery over closing tax loop holes, and that's the thing that binds their party together at this point. >> now, they must have struck a nerve. because over at fox news, they went wow and they've been playing, interviewing, and let me show you the response. here is a tape from fox news on their response with what the president said on the radio show. >> the pres
yeah, we can talk about long-term deficit reduction. but let's not do it in a way that going to keep us from growing and therefore, as melissa suggested, ultimately make the problem we have worse. >> now, melissa, i raise the same question president obama, he was on my radio show yesterday, that e.j. addressed, personal, political. let me play for you what the president said he thinks is the reason they are not uniting and trying to protect the country. they are really trying to protect...
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Feb 21, 2013
02/13
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the deficit. the idea that you're going to provide health care security -- you can laugh about it all you want, but at the end of the day it's not a laughing matter. >> we're at 16.4 trillion. >> let me finish. >> go ahead. >> you're talking about coverage for people who don't have it. >> we want to help people. >> let me finish. >> the answer is less government. >> i'm glad that mantra works, the reality is the american people aren't buying it. the last time i saw, if somebody doesn't have health care, they're not going to be able to wish it upon themselves. they need help. >> in a way chris is right. i'll grant you this. obama care does benefit people at the very top and also people at the very botch, because they're getting something for free they never had before, but the people who are most hurt are the 80% in the middle class who like their doctor and will get thrown off their health care. look at university studios. >> i love the scare tactics. >> starting january 1st of next year. >> okay.
the deficit. the idea that you're going to provide health care security -- you can laugh about it all you want, but at the end of the day it's not a laughing matter. >> we're at 16.4 trillion. >> let me finish. >> go ahead. >> you're talking about coverage for people who don't have it. >> we want to help people. >> let me finish. >> the answer is less government. >> i'm glad that mantra works, the reality is the american people aren't buying it....
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Feb 16, 2013
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you can choose a future where we reduce our deficit without sticking it to the middle class. i want to reform the tax code so that simple, fair, and ask the richer households to pay taxes on incomes over $250,000. >> a few more teachers, a bit more natural gas, lower deficit, tax reform, all good stuff. not that big, there was nothing big and specific on immigration reform, or climate change, it was popular tweets, not ambitious for the country. and that was the campaign, so it would have been careful for the second term, the ambitious was so big, so much in there, all the nights where i watched the infomercials, when you think there could be one more thing, turns out it irons shirts or in this case raises the minimum wage to $9, watch what i mean. >> more than half way towards the goal of $4 trillion in deficit reduction and medicare, i'm prepared to add proposals by the bowles commission. i put forward an american jobs act that independent economists say would create more than a million new jobs. >> but there is more. >> a bipartisan market-based solution to climate change,
you can choose a future where we reduce our deficit without sticking it to the middle class. i want to reform the tax code so that simple, fair, and ask the richer households to pay taxes on incomes over $250,000. >> a few more teachers, a bit more natural gas, lower deficit, tax reform, all good stuff. not that big, there was nothing big and specific on immigration reform, or climate change, it was popular tweets, not ambitious for the country. and that was the campaign, so it would have...
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Apr 4, 2013
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the deficits and the debt are a serious problem. but they're not a problem in the next two or three years. joblessness is the huge problem. and there's no gofrgs that. obama tries to talk about it. but because the republicans control the house, there is no stimulus or affirmative measures likely to get through. maybe there's a chance when the president puts his budget down to try to reframe this more in the near term toward jobs. but for now they're losing that battle. >> matt, just so we're clear, ari was a lawyer with a serious practice. some would say that his career is in free fall going from that to this. that's for another segment. the president is giving back 5% of his salary. which in the grand scheme of his bank account is not that much. is this a purely symbolic move that doesn't really mean anything? is this him embodying what he believes in? do you think the gop will do the same thing? or will they find a way to mock it? >> i think it is both. like the old saturday night live where it is a dessert topping and a floor wax
the deficits and the debt are a serious problem. but they're not a problem in the next two or three years. joblessness is the huge problem. and there's no gofrgs that. obama tries to talk about it. but because the republicans control the house, there is no stimulus or affirmative measures likely to get through. maybe there's a chance when the president puts his budget down to try to reframe this more in the near term toward jobs. but for now they're losing that battle. >> matt, just so...
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Mar 1, 2013
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>> well, look, we've already cut 2$2.5 trillion in our deficit. everybody says we need to cut $4 trillion. which means we have to come up with another trillion and a half. the vast majority of the economists agree that the problem, when it comes to deficits, is not discretionary spending. it's not that we're spending too much money on education. it's not that we're spending too much money on job training or that we're spending too much money rebuilding our roads and our bridges. we're not. the problem that we have is a long-term problem in terms of our health care costs and programs like medicare. and what i've said, very specifically, very detailed is that i'm prepared to take on the problem where it exists, on entitlements and do some things that my own party really doesn't like if it's part of a broader package of sensible deficit reduction. so the deal that i've put forward over the last two years, the deal that i put forward as recently as december is still on the table. i am prepared to do hard things and to push my democratic friends to do
>> well, look, we've already cut 2$2.5 trillion in our deficit. everybody says we need to cut $4 trillion. which means we have to come up with another trillion and a half. the vast majority of the economists agree that the problem, when it comes to deficits, is not discretionary spending. it's not that we're spending too much money on education. it's not that we're spending too much money on job training or that we're spending too much money rebuilding our roads and our bridges. we're...
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Apr 4, 2013
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control when it comes to controlling spending in this country right now because we have such major deficits and the fact the sequester has been a big issue. the president is giving back 5% of his salary. other people on the hill doing the same thing. the base salary giving back 5% would be 20 grand. tammy duckworth giving back. is this something we should see more of you, more elected people on the hill willing to do? >> well, you know, i applaud what the president is doing and congress should consider doing the same. for the employees being hurt by the sequester, it's more effective to put an end to the sequester, put an end to taking it out of the hide of federal employees like members of congress and others had a pay freeze for many years. for congress, it's well deserved. we may need to go further than that. not just freeze our salary, but roll it back. the most constructive thing that will help people is do away with the sequester that is indiscriminate in cuts. it kurts the good with the bad. inability to provide for defense and unable to care for senior citizens. that, i don't want t
control when it comes to controlling spending in this country right now because we have such major deficits and the fact the sequester has been a big issue. the president is giving back 5% of his salary. other people on the hill doing the same thing. the base salary giving back 5% would be 20 grand. tammy duckworth giving back. is this something we should see more of you, more elected people on the hill willing to do? >> well, you know, i applaud what the president is doing and congress...
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Nov 26, 2013
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people legitimately are concerned about the deficit. we all are. but what people are concerned about even more is that real unemployment, counting those people who have given up looking for work, and those people who are working part time when they want to work full time, that real unemployment in this country is close to 14% that youth unemployment is close to 20%, and we're seeing greater and greater income and wealth inequality in this country. so i think that that is precisely what the american people want us to do. i have fought very hard within the budget committee to put a significant sum of money into rebuilding our crumbling infrastructure into energy efficiency. and if we do those things, we can create a significant number of decent paying jobs. >> now, senator, in trying to do that, you obviously have an opposition in the senate. i'm curious for you to give me your estimation, just how big is the ted cruz caucus, the opposition caucus that swirls around the let's do nothing in the senate. how big is that caucus, do you think? >> well, yo
people legitimately are concerned about the deficit. we all are. but what people are concerned about even more is that real unemployment, counting those people who have given up looking for work, and those people who are working part time when they want to work full time, that real unemployment in this country is close to 14% that youth unemployment is close to 20%, and we're seeing greater and greater income and wealth inequality in this country. so i think that that is precisely what the...
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Feb 14, 2013
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if our only goal is deficit reduction, we can do it, but we can do it with a loss of jobs, do it with another recession, do it with loss of competitiveness. or we can do it in a smart way where we do it gradually, where we don't do it in a way that interferes with our ability to educate our people and compete on the world stage. so there is a good way to do this and a bad way to do this. i think the president would say let's do this in a smart way. >> i want to get your reaction here, representative, another part of the president's plan a federal state partnership to help foster good ideas on education. i want to play with your colleague said about that earlier. take a listen. >> many times we're hearing from the states they would rather get rid of all federal intervention into education and focus on letting the states, the counties, the cities, the local school sites handle the education issues. what we're doing with federal intervention is not working. >> what's your thought? >> well, you know, certainly some of the things the federal government has done over the years haven't been
if our only goal is deficit reduction, we can do it, but we can do it with a loss of jobs, do it with another recession, do it with loss of competitiveness. or we can do it in a smart way where we do it gradually, where we don't do it in a way that interferes with our ability to educate our people and compete on the world stage. so there is a good way to do this and a bad way to do this. i think the president would say let's do this in a smart way. >> i want to get your reaction here,...
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Feb 13, 2013
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level to lower deficit. is one that you want to bring the deficit down to encourage more private investment. but you also want to make room for things that make our country great. eisenhower investing in the interstate highway program. democrats and republicans increases in mia for bio research. i think it absolutely supports that you can cut lower priority spending to reduce the deficit and that you can use a portion of that to do things that are compelling like pre-k, universal education for 4 year olds. because we're a country that believes everybody should have a fair start. and the minimum wage has no government cost at all. that's just a commitment that we as a people believe if you work full time, you work hard, you should be able to raise your family in dignity. not in poverty. >> fair point about the minimum wage. that comes out of the private sector, obviously, and some that argue will cost jobs but we can debate that another time. what about the sequester? what is happening right now that will giv
level to lower deficit. is one that you want to bring the deficit down to encourage more private investment. but you also want to make room for things that make our country great. eisenhower investing in the interstate highway program. democrats and republicans increases in mia for bio research. i think it absolutely supports that you can cut lower priority spending to reduce the deficit and that you can use a portion of that to do things that are compelling like pre-k, universal education for...
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Feb 26, 2013
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knows this very well because she does focus on this is the jobs deficit, the growth deficit. but to the contrary, these austerity measures go exactly the wrong way. the congresswoman mentioned the hundreds of thousands of jobs that would be lost. both the congressional budget office and other nonpartisan analysts point out it will shave half a point of growth off gdp. the spending cuts are the wrong medicine. if you have any question about that look to europe where their economies are reeling from that. let us not forget, one of the things ma makes me most incensed about this is to hear them say we can't do any more revenue increases because we have done that. we have done a lot more on the spending side than the revenue increase side, like twice as much. >> congresswoman, i wonder if you take a listen to senate majority leader mitch mcconnell just a short while ago. >> the president is a master at creating the impression of chaos as an excuse for government action. do nothing, fan the flames of catastrophe, then claim the only way out is more government in the form of higher
knows this very well because she does focus on this is the jobs deficit, the growth deficit. but to the contrary, these austerity measures go exactly the wrong way. the congresswoman mentioned the hundreds of thousands of jobs that would be lost. both the congressional budget office and other nonpartisan analysts point out it will shave half a point of growth off gdp. the spending cuts are the wrong medicine. if you have any question about that look to europe where their economies are reeling...
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Jul 24, 2013
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to reduce our deficits with a sk scalpel by changing what we need. making government more efficient. instead of doing that, we've got folks who've insisted on leaving in place a meat cleaver called the sequester that's cost jobs, it's harmed growth, it's hurt our military, it's gutted investments in education and science and medical research. >> and then he demanded washington get on board or get out of the way. >> with this endless parade of distractions and political posturing and phony scandals, washington's taken its eye off the ball. and i'm here to say this needs to stop. our focus has to be on the basic economic issues that matter most to you, the people we represent. that's what we have to spend our time on and our energy on and our focus on. >> washington has taken its eye off the ball. this is the fight the right wing is afraid of. it's why they go after this president. and have done everything to block him. because they know he's speaking basic truths. trut tru while the poor stay poor. joining me now from the north lawn of the white house
to reduce our deficits with a sk scalpel by changing what we need. making government more efficient. instead of doing that, we've got folks who've insisted on leaving in place a meat cleaver called the sequester that's cost jobs, it's harmed growth, it's hurt our military, it's gutted investments in education and science and medical research. >> and then he demanded washington get on board or get out of the way. >> with this endless parade of distractions and political posturing and...
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Mar 20, 2013
03/13
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secondarily, if you say deficit reduction, the partisan are leeched out. we are talking about whether it will work to balance the budget. if along the way 35 million become uninsured, that's sad but we don't talk about it because cbo didn't mention it in the score. that's the great trick of paul ryan to recognize if you only talk about budget deficit, where does your budget put the deficit 20, 30 years from now, the amount of things you sneak in under that cloak that you can never put into the conversation in a serious way in normal times is tremendous. that's the central political innovation of his career. >> the favorite thing in the accounting discussion is compare the government to a family, saying you couldn't -- well, families do run debt, they cannot afford to buy their houses for cash, so they have a thing called a mortgage, which is the national debt of the family in effect. they try to oversimplify everything in this, but is there some break through in this point of republicans saying you know what, the debt isn't such a serious problem? >> there
secondarily, if you say deficit reduction, the partisan are leeched out. we are talking about whether it will work to balance the budget. if along the way 35 million become uninsured, that's sad but we don't talk about it because cbo didn't mention it in the score. that's the great trick of paul ryan to recognize if you only talk about budget deficit, where does your budget put the deficit 20, 30 years from now, the amount of things you sneak in under that cloak that you can never put into the...
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Jan 12, 2013
01/13
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you see those years in which the deficit stopped being a deficit, and instead became a surplus in those were the jack lew years. those were the years that jack lew was in charge of the budget. those were also the years in which debt clocks had to be unplugged because they had never been programmed to run backwards. it was not jack lew alone who led us to that fiscal breakthrough as a country. but he was budget director, and with success comes bragging rights. and even know the obama administration kind of declared war on peacocks in this announcement yesterday, it is worth wondering if they might not actually be better off if they did strut on these issues a little bit more than they like to, because you would never know it from the way the deficit peacocks are crowing against this administration, but the deficit is now more than $200 billion smaller than it was when president obama first took office. we are currently witnessing the fastest deficit reduction in this country since the end of world war ii. the alleged big spending liberal barack obama has already signed into law approxima
you see those years in which the deficit stopped being a deficit, and instead became a surplus in those were the jack lew years. those were the years that jack lew was in charge of the budget. those were also the years in which debt clocks had to be unplugged because they had never been programmed to run backwards. it was not jack lew alone who led us to that fiscal breakthrough as a country. but he was budget director, and with success comes bragging rights. and even know the obama...